SogoTrade

WikiFX | 2025-05-22 13:48

Abstract：SogoTrade, an online brokerage company in the United States, was founded in 1986. It provides low-cost access to stocks, ETFs, options, cryptocurrencies, and margin trading. While its fees are appealing, particularly for busy traders, the company lacks regulatory control and does not provide demo or Islamic accounts, which may cause anxiety for certain investors.

SogoTrade Review Summary
Founded	1986
Registered Country/Region	United States
Regulation	No regulation
Market Instruments	Stocks, ETFs, Options, Cryptocurrencies
Demo Account	❌
Trading Platform	SogoTrade Pro App, SogoTrade Pro Web, SogoTrade Web Platform, SogoOnline
Minimum Deposit	$0 (but $100 minimum required for stocks priced under $1)
Customer Support	Live chat
	Phone: 1-888-709-7646
	Email: services@sogotrade.com

SogoTrade Information

SogoTrade, an online brokerage company in the United States, was founded in 1986. It provides low-cost access to stocks, ETFs, options, cryptocurrencies, and margin trading. While its fees are appealing, particularly for busy traders, the company lacks regulatory control and does not provide demo or Islamic accounts, which may cause anxiety for certain investors.

Pros and Cons

Pros	Cons
Very low fees on stocks, options, and margin interest	No regulation
Multiple account types including IRA and custodial	No demo accounts
Modern platforms for mobile and web trading	Limited information on fees

Is SogoTrade Legit?

SogoTrade is not now governed by any acknowledged financial authority, no. Though registered in the United States, it lacks a legitimate license from the U.S. Securities and Exchange Commission (SEC).

WHOIS records show the name sogotrade.com was registered on September 7, 2005, last modified in 2015, and will expire on September 7, 2025. The domain is live with a “client transfer prohibited” status, meaning it is restricted from being transferred without the owner's consent.

What Can I Trade on SogoTrade?

SogoTrade provides a diverse range of trading and investment products, including stocks, ETFs, options, cryptocurrencies, margin trading, and automated portfolios for both active and long-term investors.

Trading Instruments	Supported
Stocks	✔
ETFs	✔
Options	✔
Cryptocurrencies	✔
Forex	❌
Commodities	❌
Indices	❌
Bonds	❌

Account Type

SogoTrade provides a broad spectrum of live account kinds including individual, joint, company, IRA, and custodial accounts. It does not, however, offer Islamic (swap-free) accounts or demo accounts.

Account Type	Feature	Suitable for
Individual Account	A personal investment account for one individual	General retail investors
Joint Account	Shared account between two individuals	Spouses, partners, or co-investors
Business Account	For corporations or LLCs	Companies managing investment portfolios
IRA Account	Retirement accounts: Traditional, Roth, or SEP IRA	U.S. residents planning for retirement
Coverdell Education Savings Account	Tax-advantaged account for education expenses	Parents saving for a child's education
UTMA/UGMA Account	Custodial account for minors	Adults managing assets for children
Trust Account	Account managed under a legal trust agreement	Estate planning or fiduciary purposes

SogoTrade Fees

SogoTrade's fees are typically lower than the industry average, particularly for stock and options trading and margin interest rates. It also has no minimum deposit requirement, making it suitable for new investors.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
SogoTrade Pro App	✔	iOS, Android (Mobile App)	Active traders seeking mobile trading with Level I/II data, alerts, and custom views
SogoTrade Pro Web	✔	Web Browser (Desktop/Web)	Active/self-directed traders needing customizable dashboards and advanced tools
SogoTrade Web Platform	✔	Web Browser (Desktop/Web)	General retail investors trading stocks, ETFs, and options
SogoOnline	✔	Web Browser	Simpler web interface for basic trading needs